Facebook Heading to Nasdaq 100 and Will Join at Least Four More ETFs
By Benzinga 12/5/12
Shares of social media giant Facebook could get a lift over the next several days.
Shares of social media giant Facebook (NASDAQ:FB) could get a lift over the next several days as fund managers and ETF sponsors acquire the stock in anticipation of it joining the Nasdaq-100 (INDEXNASDAQ:NDX) at the start of trading on Wednesday, December 12, 2012.
NASDAQ OMX (NASDAQ:NDAQ) made the announcement after the close of US markets on Tuesday. The news means Facebook is headed for the PowerShares QQQ (NASDAQ:QQQ), the ETF often referred to as the "Nasdaq 100 tracking ETF."
With $30.9 billion in assets under management, QQQ is not only one of the largest US-listed ETFs of any kind, it will also be the largest ETF to be home to Facebook. Currently, the largest ETF by assets